Overview

Sift provides a platform focused on detecting and preventing online fraud in real-time, catering to clients in e-commerce, fintech, and digital marketplaces. The platform utilizes machine learning and artificial intelligence to analyze large datasets, allowing it to identify fraudulent activities effectively. One of its standout features is dynamic friction, which ensures that genuine users have a smooth experience while preventing fraudsters from accessing services. Sift's revenue model is based on subscription fees that depend on transaction volume and service levels, and it also offers additional services like chargeback management and dispute resolution. The company's goal is to enhance digital trust and safety for businesses by providing them with actionable insights to make informed decisions.

Simplify's Take

What believers are saying

• Growing demand for AI-driven fraud detection in QSRs presents expansion opportunities for Sift.
• Digital-first banks' need for effective authentication aligns with Sift's fraud prevention solutions.
• Global trend towards secure payment systems supports Sift's mission for digital trust and safety.

What critics are saying

• Rise of app-enabled friendly fraud challenges Sift's mobile fraud detection capabilities.
• Reliance on third-party delivery apps by QSRs introduces new fraud risks for Sift.
• Complex payment processes may complicate Sift's integration and effectiveness in fraud prevention.

What makes Sift unique

• Sift offers a comprehensive platform for real-time online fraud detection and prevention.
• The company uses machine learning and AI to analyze vast amounts of data effectively.
• Sift's dynamic friction feature ensures seamless user experience while blocking fraudsters.

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Funding

Total Funding

$4.5M

Below

Industry Average

Funded Over

6 Rounds

Notable Investors:

Insight PartnersFirst Round CapitalSV AngelAndreessen HorowitzY Combinator

Notable Investors:

Insight PartnersFirst Round CapitalSV AngelAndreessen HorowitzY Combinator

$50,000,000

Series E

Apr 2021

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.

Series E Funding Comparison

Below Average

Industry standards

Ind Avg. $100M

$30M

$50M

$245M

$250M

$1250M

$1500M

View all funding stages